Ownership
At the end of 2019, ALK had 12,979 registered shareholders, versus 13,658 at the end of 2018. The registered shareholders owned 98% of the share capital (97).

As of 31 December 2019, two shareholders have notified shareholdings of 5% or more: Lundbeckfonden has a 40.3% interest (including A shares and AA shares) and ATP has an 8.8% interest. Of the 30 largest registered shareholders, the vast majority were institutional investors - from North America, the UK and Scandinavia in particular. In the shareholder register, the international ownership is estimated at approximately 23% (21), representing 36% of the free float of the B share capital (36), excluding the Lundbeck Foundations's holding and treasury shares.

ALK's holding of its own shares was reduced following settlement of share option and conditional share programmes. At the end of the year, ALK held 240,694 or 2.2% of its own shares (2,4% at the end of 2018) which is considered sufficient to cover current obligations related to ALK's long-term incentive programmes.

Major shareholders* and treasury shares as at 31 December 2019

The Lundbeck Foundation
Registered office: Copenhagen, Danmark
A shares, number: 920,720
AA shares, number: 92,072
B shares, number: 3,474,827
Interest: 40.3%
Votes: 67.2%

The Danish Labour Market Supplementary Pension ( ATP)
Registered office: Hillerød, Denmark
B shares, number: 984,603
Interest: 8.8%
Votes: 4.9%

ALK - own shares
Registered office: Hørsholm, Danmark
B shares, number: 240,694
Interest: 2.2%

* Notified shareholdings of 5% or more of the company's shares